Index Our Team 360º Bunkering BMS United Milestones. Merger of BMS United Bunkers & IBS

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1 Group Report

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3 Index Our Team 360º Bunkering BMS United Milestones Stakeholders Our Values Our Services The 2020 Challenge Merger of BMS United Bunkers & IBS P. 8 P. 14 P. 16 P. 18 P. 20 P. 28 P. 40 P. 42 P. 5

4 BMS United Group Report Lars H. Nielsen 0.1 Dear Friends, Since 1990 I am proud to be at the helm of BMS United and work jointly with Antonis Xiros for the sole purpose of becoming your preferred bunker-trading company. If I had to single out a success factor of our business model, it would definitely be our people and their continuous effort to provide you with superior, reliable, tailor-made bunker and lubricant related solutions worldwide. Without any doubt, it is our team of maritime professionals, which has allowed for our remarkable growth during the last three decades has been a remarkable milestone for BMS United. This was the year when IBS (International Bunkering Services) became a member of our Group. By expanding our global coverage and combining the financial strengths, extensive experience and regional expertise of IBS, we have secured our position as one of the largest bunker and lubricant trading companies globally. Today, as our industry is going through continuous challenges, our mission remains the same as at the grassroots of our establishment to continue developing by solidifying our market position and the reputation of the group. Wherever the future may take us, the strength of our global network and the commitment of our people guarantee the uninterrupted delivery of value to our customers for many years to come. Thank you for your trust in the BMS United Group and our services. Sincerely, Lars H. Nielsen Executive Group Director P. 7

5 Board of Directors BMS United Group Report Christian F. Jorgensen Managing Director Americas Jakob Wilhelmsen Global Sales Director Lars H. Nielsen Executive Group Director Antonis K. Xiros Group Director Bjarke Staal Director - Claims Legal & Training Rong Zhou Managing Director Asia 0.1 P. 9

6 Our Team BMS United Group Report Lars H. Nielsen Executive Group Director Our values are the principles that guided us to success 0.1 P. P. 11

7 Our Team BMS United Group Report Antonis K. Xiros Group Director Our people make the difference 0.1 P. P. 13

8 360º Bunkering BMS United Group Report / 360º Bunkering Russia Vladivostok 0.2 Since 1990, our people proudly provide our partners with exclusive global maritime oil solutions. During this period we have grown to become one of the world s largest bunker & lubricant trading groups. Our highly skilled team of more than 60 traders is located among our offices at Piraeus, Buenos Aires, Limassol, Hong- Kong and Vladivostok. Our aim is to be one of the top 5 bunker & lubricant companies in the world by To carry on our steady and controlled growth we intend to add significantly more focus on two critical areas: talent development and geographical expansion. It goes without saying that success in the latter depends on success in the former. P. 15

9 BMS United Milestones BMS United Group Report / BMS United Milestones Establishment of BMS Bunkers in Piraeus IBS sets up office in Russia Merger of BMS United Bunkers & IBS Establishment of BMS Bunkers in Buenos Aires IBS sets up office in Hong Kong 0.3 P. 17

10 Stakeholders BMS United Group Report / Stakeholders Interaction with our stakeholders We have invested in maintaining a continuous dialogue with our stakeholders by utilizing multiple communication channels, such as user-friendly websites, newsletters and publications. We understand the importance of security in our interaction with our business partners. In this regard, we employ advanced technologies for secure information transfer and communication. Additionally, we have implemented security holograms and the latest generation security systems controlling falsification of invoices and other correspondence material. 0.4 P. 19

11 BMS United Group Report / Our Values P. 22 P. 23 P. 24 P. 26 Integrity Partnership Responsibility People Our Values Our values are the principles that guide our interaction with all our stakeholders We actively encourage daily interaction with various audiences, and we seriously take into account their expectations, thoughts and individual needs. 0.5 P. 21

12 Our Values _ Since 1990, we have been creating relationships of mutual trust and understanding ithin our Group we make good use of the power of partnership to meet the challenges of our business. In addition, our success is very much based on the development of solid partnerships with our stakeholders. We treat our partners with respect and honesty, while almost 30 years we have been creating relationships of mutual trust and understanding with our clients and our suppliers all over the world.

13 BMS United Giannis Mitakis / GR Team P. 25

14 BMS United Group Report / Our Values / 04. Our People _ 15 Languages _ 10 Nationalities ur people and their developmet, has always been the keystone of our success. We actively support the constant developmet of all the members of our staff, while disseminating our vast knowledge. At BMS United, we promote the responsible freedom of our employees in a team oriented and inspiring workplace. We are united under the goal of providing superior services under a risk conscious behavior and a serious business mindset. P. 29

15 Value-Added Services Risk Management Physical Supply Lubricants Bunkers BMS United Group Report / Our Services Our Services 24/7 we cover the world P. 38 P. 36 P. 34 P. 32 P You can rely on BMS United 24 hours a day 7 days a week, from the busiest Asian container hubs to the most remote bunker destinations in the South Atlantic. Together with our global network of vetted partners we offer bunker fuel oil and all related services here, there and everywhere. P. 29

16 Our Services BMS United Group Report / Our Services / 0.1 Bunkers No limits No boundaries Our widespread net of local agents and major suppliers enables us to offer the benefits of an in-depth local knowledge combined with the buying power of global coverage. Our services range from all the standard deliveries in port to the most complex deliveries offshore. Upon request we offer: Chartering of vessels Specialized barges Arranging professional bunkering equipment Crews of specialists Our supply and service know no limits. Our coverage knows no boundaries. Handling more than e offer quality fuel and gas oil 0.1 / Bunkers W products, at competitive price levels. Bunkers is our core business since 1990, and today we are one of the largest bunker trading groups globally. BMS United offers our partners attractive quotes, while our supplies and services are carried out at the agreed time and place. Ensuring timely and accurate supplies is vital to us, and we take great pride in being one of the most reliable partners in the marine fuel oil market. The superior service of BMS United is focusing on more than just sales itself. We follow up until the actual supply has been effectuated, ensuring optimal efficiency and quality. 5,8 Million tons annually P. 31

17 Our Services BMS United Group Report / Our Services / 0.2 Lubricants We keep engines running Having established a specialized marine lubricant business, we can provide our customers with integrated and innovative solutions for the Global Shipping industry. Through our extended port coverage, even in niche ports, we are able to deliver significant results by adding value and benefits to your shipping business. Strong volume growth reaching n BMS United we offer our clients 0.2 / Lubricants I optimized marine lubricants solutions, no matter if they require saving significant operating costs and minimizing downtime. large quantities in bulk or smaller quantities in drums, always taking quality, pricing and logistics in account. By constantly offering products and services of the highest standards, we help keep our clients vessels engines running smoothly and efficiently, Last but not least, being pioneers in our industry, we introduce biodegradable lubricants, covering a wide range of environmentally responsible oils designed to minimize the lubricants impact not only in the marine environment, but also in the ecosystem as a whole. 5,5 Million litres annually P. 33

18 Our Services BMS United Group Report / Our Services / 0.3 Physical Supply Physical supply Physical Supply locations: Şevketiye İcdas Karabiga Bandırma Çanakkale 2 Barges Dardanelles Strait Bozcaada Anchorage IFO Capacity: 3800 mt Akçansa LSMGO 0.1% Capacity: 750 MT ISO 8217: 2010 specs 0.3 / Physical Supply BMS United expands its presence as a physical supplier in the Mediterranean, with its newest physical set-up at the Dardanelles Straits in Turkey. Enabling a new supply option By supplying your vessel at the Dardanelles Strait, you have a chance to pass the Bosphorus Strait fast and efficiently by lifting bunkers prior to your entry into the strait, thus taking Aliağa Dikili at the Turkish Straits offering Fuel Oil advantage of the two-way traffic and LSMGO 0.1%, supplying by barge or trucks, at multiple locations, we of the Dardanelles instead of the one-way traffic of the Bosphorus Güllük Nemrut Bay answer our clients needs, ensuring Strait. timely, flexible and high-quality Izmir refueling solutions in the area. P. 35

19 Our Services BMS United Group Report / Our Services / 0.4 Risk Management Cap or fix your risks Please do not hesitate to contact us to discuss your options. Our risk management experts will help you choose the right fuel hedging tools to minimize or eliminate risks. Fixed Price Agreements Max Price Agreements Swaps Zero Cost Collars Capped Swaps 0.4 / Risk Management Managing fuel price risks has become vital to companies worldwide, as fuel oil prices are fluctuating up and down like waves in a stormy ocean. The fluctuations in prices depend on a great number of unpredictable events, and they might expose your margins. To limit your exposure, BMS United offers you a range of contractual hedging tools. We offer you a chance to either cap or fix the price and thereby avoid unpleasant surprises. Protect your budget and margins by knowing your fuel expenses in advance. Being one of the largest and most experienced trading groups in the world, we are able to offer fast and dynamic hedging solutions, carefully tailored to the individual needs of our clients. We continuously monitor the crude & oil products markets, and collect the latest financial and price information, so that you can concentrate on your core business without worrying about oil price fluctuations. P. 37

20 Our Services 0.5 / Value Added Services The offering of BMS United is a lot more than Bunkers and Lubricants. We offer a wide range of supplementary services, as part of an overall exclusive solution that can improve the performance of your organization. As a global leader, our role reaches far beyond than that of a bunker trading company. Our aim is to offer you a variety of complimentary services and opportunities that add real value to your business. P. 39

21 The 2020 Challenge BMS United Group Report / The 2020 Challenge BMS can guide you through the maze of the upcoming IMO sulphur cap MEPC 72 PPR 6 Spring 2018 Jan / Feb Implementation Jan 2020 By 2020, all ships will have to comply with the new low sulphur marine fuel regulations. In detail, instead of the present 3,5% limit, as of marine fuels must contain no more than 0,5% sulphur, with the exception of the ECA areas where sulphur limits will remain at 0,1%. As we are thinking ahead of the 2020 deadline, we have already started providing valid information regarding the latest developments, through various online platforms, conferences or even private seminars upon request. MEPC 73 MEPC 74 BMS United is constantly engaged in a rigorous dialogue with all the key stakeholders in the shipping industry, actively shaping the future of marine fuel oil procurement. Autumn 2018 Spring Ask your BMS UNITED trader for additional information about what the IMO regulations mean for you. * Marine Environmental Protection Committees * Pollution Prevention & Response P. 41

22 Merger of BMS United Bunkers & IBS BMS United Group Report / Merger of BMS United Bunkers & IBS A perfect match of equals Discover the new BMS United Brand In an effort to further enhance our global coverage, competitiveness and customer service, BMS United Bunkers has merged with International Bunkering Services (IBS), one of the leading bunker suppliers trading houses in Asia. BMS UNITED is a perfect match of equals. The fusion of two highly complimentary partners, each with its own unique set of values & strengths. The new brand symbolizes the essence of this merger, underlining the importance of joining, sharing and benefiting from increased financial strength, vast heritage and years of expertise of both companies. The redesigned BMS United brand identity showcases the advancement of the group, while underlying the commitment of its people to continuously deliver value to the shipping industry for many years to come. 0.8 P. 43

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24 Contact us Greece - Piraeus P E. greece@bmsunited.com Argentina - Buenos Aires P E. argentina@bmsunited.com China - Hong Kong P E. hongkong@bmsunited.com Russia - Vladivostok P E. russia@bmsunited.com

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